Deferred compensation plans, local; locality to provide automatic enrollment of all employees. (HB1742)
Introduced By
Del. Brenda Pogge (R-Williamsburg)
Progress
✓ |
Introduced |
✗ |
Passed Committee |
☐ |
Passed House |
☐ |
Passed Senate |
☐ |
Signed by Governor |
☐ |
Became Law |
Description
Local deferred compensation plans. Permits a locality to provide for automatic enrollment of all employees in a deferred compensation plan. Read the Bill »
Outcome
Bill Has Failed
History
Date | Action |
---|---|
01/07/2009 | Committee |
01/07/2009 | Prefiled and ordered printed; offered 01/14/09 098342686 |
01/07/2009 | Referred to Committee on Appropriations |
01/19/2009 | Assigned App. sub: Compensation and Retirement (Jones, S.C.) |
01/19/2009 | Assigned App. sub: Compensation and Retirement (Hogan, Clarke N.) |
01/22/2009 | Impact statement from VRS (HB1742) |
02/10/2009 | Left in Appropriations |
Comments
Here go again with another conservative out of touch with everyday citizens working for local goverment. Lets take away their retirement benefit and gamble with the money on wall street. If this bill passes the men and women that are public servants in the commonwealth will have their retirement in jeopardy.
Read the book, "Nudge"? Automatic enrollment improves employee retirement savings by making the default option to save for retirement. From my read of this bill, it would still allow employees to "opt-out" if they so chose.